Nigeria Skye Bank in talks to raise 30 bln naira before year-end

August 10, 2015 2:18 PM

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LAGOS Aug 10 Nigeria's Skye Bank is in talks with existing and new investors to raise 30 billion naira ($150.75 million) before year-end to bolster its capital base, its chief executive officer said on Monday.

CEO Timothy Oguntayo said the central bank was restructuring 27 billion naira short-term loans it made to Nigerian state governments to 20-year maturities, paying a 16 percent coupon.